Regulatory News 17 December 2025

This week, the FCA published a news piece on open banking, stating that 16 million users now benefiting from the service. The regulator is also amending its Code of Conduct (COCON) sourcebook to explain how non-financial misconduct can be a breach of the conduct rules.

In other news, the FOS has released it latest edition of Ombudsman News, which covers the organisation’s recent consultation on its plans and budget.

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FCA News
Open banking: A year of progress

Open banking in the UK is growing rapidly. Latest industry figures show there are more than 16 million users now benefiting from the service.

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Source: FCA
Date: 16 December 2025

FCA Publication
FCA policy statement: Tackling non-financial misconduct in financial services

The FCA is amending its Code of Conduct (COCON) sourcebook to explain how non-financial misconduct can be a breach of the conduct rules. This will make it easier for firms to interpret and consistently apply FCA rules. The guidance will come into force on 1 September 2026.

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Source: FCA
Date: 12 December 2025

FCA News
FCA fines Nationwide £44m for failings in financial crime controls

The FCA has fined Nationwide Building Society £44m for inadequate anti-financial crime systems and controls between October 2016 to July 2021.

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Source: FCA
Date: 12 December 2025

FCA Publication
FCA Dear CEO letter: Modernising the supervisory model

The FCA wrote to fixed firms last week to explain how the organisation has been delivering against one of the key commitments in its strategy – to be a smarter regulator.

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Source: FCA
Date: 12 December 2025

FCA News
Regulators Forum publishes Regulatory Initiatives Grid to support innovation and stability

The latest edition of the Regulatory Initiatives Grid, setting out the regulatory pipeline for financial services over the next two years, has been published. The grid covers current and planned initiatives for nine organisations.

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Source: FCA
Date: 11 December 2025

FCA Publication
FCA board minutes

The FCA has published the minutes from its board meeting held on 30 October. They discussed cyber risks and strategic performance.

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Source: FOS
Date: 11 December 2025

FOS Publication
Latest edition of Ombudsman News

The latest edition of Ombudsman News has been published. It covers the organisation’s recent consultation on its plans and budget.

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Source: FOS
Date: 11 December 2025

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